The silence was intense at Balenciaga, for a show held without any soundtrack as Balenciaga returned to haute couture after half a century. The applause, however, was resounding for creative director Demna Gvasalia.
French group Kering said Wednesday it will sell a further $1 billion worth of shares in Puma as it continues to unwind its investment in the sneaker and sportswear maker to focus on higher-end luxury brands.
Gucci’s experimentation in the digital world – from la mode to marketing – has extended into a new terrain, NFT, as the house has moved to participate in Christie’s debut online auction named Proof of Sovereignty.
The pandemic has forced luxury goods companies to use social media, video and virtual showrooms to woo their wealthy customers in Europe when tourists, especially from China, have been absent for more than a year.
If anybody needed confirmation of how important fashion resale has become, it came on Monday with the announcement by France’s Vestiaire Collective of a new €178m financing round backed by Kering, among others.
French luxury goods group Kering is looking at possible mergers and acquisitions seriously, but M&A is not indispensable for its future growth, Chairman and Chief Executive Francois-Henri Pinault said on Wednesday.